Jason Del Vicario

Believes high quality companies acquired below intrinsic value is the recipe for investing success. Has been purchasing stocks given weakness in markets. Prefers companies that are able to reinvest earnings into compounding returns. 

Japanese player in eCommerce for price comparison. Recent weakness in share price creating opportunity to buy. High margin business with large amount of cash flow. Weakness in economy also good as customers seek deals. Asset light business with low capital requirements. Strong returns on capital. 

Supper app that provides numerous services. 75% of adult population in Kazakhstan uses app. 12th largest position within fund. Some geopolitical risk. Very well run company. Safe dividend yield. Founder run and owned. 

High margin business with low capital requirements. Telecom equipment demand not slowing down. Current share price presenting good buying opportunity. Business fundamentals very strong. Excellent management team. Small company, so size position accordingly. Founder led and owned. No deb. Will own business as long as possible. Good for long term investors. 

Excellent business with high margins and strong cash flow. #3 holding in portfolio. Will continue to own for decades. Good for long term investors. Excellent fan base of customers. Strong dividend yield. 

Strong consumer products brand. Recent share price presenting good buying opportunity. Founder led & owned. No debt with high margins. Excellent for long term investors. Long term outlook for business is very favorable. Top line growing rapidly. Largest market is USA which has further room for growth. 

Strong business with high margins. Largest casino in the world with white label products online. Excellent cash flow with great management team. Recent weakness in share price presenting good buying opportunity. Excellent long term value. Founder led & founder owned. 

Insider ownership not high enough to justify investment. Return on capital also not high enough. No debt is positive. Margins also trending down. Would give this company a pass for now. Neutral company based on first glance. 

Founder led/owned which is positive. Smart real estate acquisitions. Stable returns on capital. High margins. Current share price a little high. Would buy if price fell to 20x earnings (50% reduction in current share price). 

Owns shares, but has trimmed in $170 range. Higher interest rates tough on bonds. Good hedge for people who think recession on horizon. Would recommend for a small portion of portfolio. 

Largest position in portfolio(~14%). Excellent company. One of the best compounders in the world. Roll up strategy of software. Founder led and owned. Only problem is that stock is expensive. Good for long term investors. Very strong management team. Able to re-invest 100% of cash flow into M&A. 

Does not invest in company currently. Founder led and owned. Returns on invested capital are high. Little bit of debt which is a concern. Trucking is not asset light (prefers asset light business models). Would rate business 7/10 in terms of overall quality. 

Software business that has strong history of value creation. Does not compare to Constellation Software, however is a good business. High margins with strong cash flow. 

Clothing company based in Vancouver. Founder owned, but not founder led. Fashion risk is concern for business (fickle trends). Expansion into USA a positive trait. Strong business performance the past 10 years. Retail business is also a tough space. Would rate business at around 8/10 overall. 

Not asset light. High liabilities. Low margins. Better options for investors out there. High debt levels. Not a great business. Not founder led or owned.